No barriers for Indian IT firms: Manmohan tells US

Manmohan Singh, on Saturday said in an opening statement to business leaders that, the American barriers through legislative and administrative measures to Indian IT industry will affect the Indian economy as well as India-US economic partnership. India would like to invest a trillion dollars in infrastructure and defensive sector and will encourage private sectors in this Area.
He also said that, strong two-way economic and business partnership will help the India-US relationship by all means.  Business community in the US has expressed concerns over the India’s growth prospects, macroeconomic stability and the economic policy environment.  Manmohan said that he would use the meeting as well as he can to clear this mistaken perception. “We have an abiding commitment to fostering an economic environment that is open, predictable and transparent, and which is business and investment friendly. We are determined to restore the high momentum of growth of the past decade and maintain macroeconomic stability. We also know that achieving this means more and not less reforms,” Dr. Singh said.
He also said that the government has taken steps to make India more attractive for foreign direct investment. India expects a stronger growth in 2013-2014 than in 2012-2013. Some security related restrictions on electronic imports were perceived as disguised protectionism. India recognise that investment and innovation in a country requires such protection. India has strong IPR legislation in India, consistent with our WTO obligations. Said Manmohan on Friday evening

Infoeditor